Weekly return
LAFDI
-4.39%
MSCI World
-3.95%
Top 5 performing Stocks in last week
1
TAXI US Equity
12.70%
2
RM US Equity
9.06%
3
PFSI US Equity
8.16%
4
CFN CN Equity
6.06%
5
XOOM US Equity
5.99%
Worst 5 performing Stocks in last week
1
QIWI US Equity
-8.36%
2
TUNG LN Equity
-7.63%
3
TREE US Equity
-6.36%
4
ONDK US Equity
-3.42%
5
MNY AU Equity
-2.36%
* Returns are calculated for the week to local market close on Thursday.
The week’s biggest climber was Medallion Financial Corp. The specialist finance provider’s shares rallied some 30% on the week after Barrons and the FT ran a positive article on the beaten up stock highlighting how cheap it was looking. The articles downplayed the ongoing erosion in yellow taxi fares by Uber. The articles themselves have been the subject of debate in the financial press as to their objectivity and balance, however the stock is now trading at levels not seen since mid August, its decline halted for now.
Top of the drops was QIWI, the Russia focused payment services company. The stock is now at its lowest point for the since may 2013. Last week’s 24% fall appears to have come on very light newsflow. The company announced that it was setting up a crytocurrency using blockchain technology – bitRubles, however that is unlikely to have caused the fall.
The other major losing stock this week was Tungsten Corp, with the stock dropping 19.4%, bouncing along the bottom having lost almost 80% of its value since the beginning of the year. Analysts at Canacord which have a buy rating on the stock reduced their price target to 84p from 99p. The stock closed last night at 57.
Please note : The LAFDI is now available on Bloomberg. Tickers:
LAFDITR Index <GO> for the Total Return Index
LAFDIPR Index <GO> for the Price Return Index
